Putin ratifies law on formation of Rosatom

03 December 2007

Russian president Vladimir Putin ratified the law concerning the formation of Rosatom on 3 December. He also ratified amendments to other laws in connection with the adoption of the law on the creation of Rosatom.

The law was adopted by the Duma, the lower house of the Russian parliament, on 13 November and then by the Federal Council, the upper house, on 23 November.

The legislation - entitled "Regarding the State Corporation for Atomic Energy Rosatom" - will create a high-level state corporation named Rosatom (the same name as the existing Federal Atomic Energy Agency), which has been handicapped by its relatively low status in the political system. The law on Rosatom is aimed at optimizing the work of the nuclear industry and consolidating its resources and financing it from the federal budget.

The new Rosatom company would assume many of the roles currently taken by the existing Rosatom agency, overseeing the commercially-focused nuclear power industry as well as Russia's extensive military complexes. As a company, the new Rosatom will hold shares in AtomEnergoProm and the state enterprises currently owned by the Rosatom agency, enabling much greater coordination of planning and funding. It would also control some scientific organizations and nuclear safety and radiation authorities.

The Rosatom company will be governed by a supervisory board consisting of eight presidential and governmental representatives, as well as a director general who is to be appointed by the Russian president. The company's board of directors will be appointed by the supervisory board according to the director general's proposals.